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In the Hours Grid method of entering hours, you can select whether to enter in hours and minutes or hours and tenths of an hour. That is set in:

File | Preferences | General tab | Hours Display [ Hours and minutes | Hours and tenths of hours ]

No matter which method of entering fractions of an hour, reports will display them in decimal format.

Here are short and long conversion charts for minutes to decimal hours which can help people who are entering hours in hours and minutes.

Quick Chart
 3 minutes = 0.05 hours
 6 minutes = 0.10 hours
 9 minutes = 0.15 hours
12 minutes = 0.20 hours
15 minutes = 0.25 hours
18 minutes = 0.30 hours
21 minutes = 0.35 hours
24 minutes = 0.40 hours
27 minutes = 0.45 hours
30 minutes = 0.50 hours
33 minutes = 0.55 hours
36 minutes = 0.60 hours
39 minutes = 0.65 hours
42 minutes = 0.70 hours
45 minutes = 0.75 hours
48 minutes = 0.80 hours
51 minutes = 0.85 hours
54 minutes = 0.90 hours
57 minutes = 0.95 hours

Minutes to Decimals Conversion Chart
min = decimal hours
:01 = .02
:02 = .03
:03 = .05
:04 = .07
:05 = .08
:06 = .10
:07 = .12
:08 = .13
:09 = .15
:10 = .17
:11 = .18
:12 = .20
:13 = .22
:14 = .23
:15 = .25
:16 = .27
:17 = .28
:18 = .30
:19 = .32
:20 = .33
:21 = .35
:22 = .37
:23 = .38
:24 = .40
:25 = .42
:26 = .43
:27 = .45
:28 = .47
:29 = .48
:30 = .50
:31 = .52
:32 = .53
:33 = .55
:34 = .57
:35 = .58
:36 = .60
:37 = .62
:38 = .63
:39 = .65
:40 = .67
:41 = .68
:42 = .70
:43 = .72
:44 = .73
:45 = .75
:46 = .77
:47 = .78
:48 = .80
:49 = .82
:50 = .83
:51 = .85
:52 = .87
:53 = .88
:54 = .90
:55 = .92
:56 = .93
:57 = .95
:59 = .98
:60 = 1.00
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